Homework: Chapter 6 Score: 0 of 5 pts E6-20 (book/static) 3 of 5 (1 complete) Hw Score: 20%, 5 or 25 pts Question Help Assume that AB Tire Store complated the tolowina perpetual Inventory transacticns tor a Ine of tres: cark the icen o ww thc transactions ) Requirement 1. Compue cul ol guods sold and gioss pru usng e FIFO invenlory cuslg mellod Begin by computina the cost of goods sold and cost of andina merchandise nentery usina the F FO Inventory costng method. Enter the transacions In chronological crder, calculatina new Inventory on hand balances ater each transaction. Once all of the transactions have been entered into the perpebual record, calculate the quantty and total cost cf merchandise inventory purchased, sold, and on hand at the end of the penod Emer the odest inventory layers irst.) i Roquircments Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date QuantityCost Cost Quantiry Cos Cost Quanty Cost Cost 1. Compute cot of goods sod and gross proft using the FIFO Invcntory 2. Compute cost of goods sold and gross proft usia the LIFO inventory J. Cmpule c ol guods sild andgiass prot usng le wghle-average May 1 usling method. coating mcthod inventory costing method.(Round weighted-average cost per unit to the neares cent and ail other amcunts to the nearest dollar.) Pii Duie 1G Ilies@ 6seach 10 ties 78 cach 12 ts88 cach 14 tiresAS 80 each 18 tires S 88 each May 1 Uegming nerchardrse rivenlury 11 rurchasc Enter any number in the edt helds and then cick Check Answer 26 Purchase 29 Sale Clear Al Check Answrs